City of Brookhaven – Vote on Redevelopment Powers

Brookhaven Picture

Beautiful, Accessible, Charming and Alluring, are just a few words used to describe the City of Brookhaven.  In order to preserve these images, the city will need to implement key strategic initiatives.  The city’s Comprehensive Plan includes recommendations to embark on future projects with the goal of fostering public/private partnerships to spur economic growth.  A viable financing option a city can utilize is creating a Tax Allocation District (TAD).  TADs offer a flexible alternative to financing economic development without the need to use money from the General Fund.  A General Fund provides necessary resources to sustain the daily activity and pays for any administrative and operating expenses.  Creating a TAD would limit the need to raise taxes and further reduce the need to use other revenue sources to finance redevelopment and infrastructure improvements.

Georgia’s Redevelopment Powers Law, adopted by the General Assembly in 1985, gave local governments the authority to sell bonds to finance infrastructure and redevelopment costs within a specifically defined area.  Essentially, the city designates an area in need of redevelopment or infrastructure improvement by adopting a plan outlining the enhancements.  As unoccupied and dilapidated properties are developed, the property value within the TAD increase; therefore tax revenues from the increased value pay for the redevelopment cost and any debt used to fund the improvements.

The Council for Quality Growth supports the Brookhaven Redevelopment Powers Law (HB-1136) Referendum.  The City Council of Brookhaven is trying to maintain and further develop the city by implementing the strategies and initiatives outlined in their Comprehensive Plan.  The need for improved streetscaping will not only increase facilities for pedestrians and bicyclists but also enhance the city’s character and appeal.  Let’s not forget, Brookhaven is the fastest growing zip code in Metro Atlanta.  Voting for the Referendum on November 4, 2014, should help establish Brookhaven as the place to live, now and also in the future.